Perth, Aug 1, 2008 (ABN Newswire) - Emerging onshore oil and gas producer Exoma Energy Limited ("Exoma")(ASX:EXE) has continued its successful run since listing in January 2008, reporting an 82% increase in cash revenues and a 28% increase in production for the June Quarter, compared to the previous Quarter.

Exoma's net production has increased to 9,070 barrels of oil equivalent, which was achieved primarily from the Kelln 94-2 discovery well, which commenced production in April and started contributing cash flow in June.

Managing Director David Rowbottam said, "We are very pleased to report these strong production and revenue figures to our shareholders and it demonstrates the soundness of our multi-formation horizontal drilling strategy and the strength of our balance sheet to fund our planned exploration activities from existing cash flows." "The market has fundamentally undervalued our Company and we anticipate the imminent release of new 1P & 2P reserves will provide the necessary confidence to the market to re-rate our stock."

"We also are eagerly awaiting the production flow test results from the Brearley 1H-11 horizontal well in the coming weeks. A successful well in this section will significantly increase Exoma's 1P and 2P valuations and further boost revenues.

"With this in mind, we have continued to increase our net acreage in the prolific Anadarko Basin in Oklahoma, which we believe has the potential to rival the North West Shelf in terms of proven oil and gas reserves.(1) It is our intention to be a substantial land owner and major producer in that region."

1. Ultimate recoverable gas for the Anadarko Basin is estimated to exceed 100 trillion cubic feet of gas: Netherland Sewell & Assoc Inc, Dec 2007

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